Flutterwave is reportedly ready for expansion, and that might see it set foot into the Asian market
Founded in 2014, the Nigeria and San-Francisco based fintech Startup may be considering setting up an operation in the Asian market as part of its expansion plan. Of course, the global payment provider has done quite well as a startup, representing one of the few that have significantly exploited what is known as cross-border expansion.
While the information is based-off assumption, the payment provider, in a recent tweet highlighted some of the countries it intends to execute its expansion plans. Also, in the same tweet, the company seems to be currently undergoing staff recruitment for the respective countries.
To think that the country is taking such a major step sooner than expected is quite inevitable, however, considering its presence in Nigeria, Ghana, Uganda, Kenya, and South Africa, Flutterwave seems to be capable enough to enter into a new and entirely different market like Asia. For now, it plans to deal with only two countries in the region- China, and India which happens to be the most populous in the continent and the world at large.
Also, penetrating the Asian market is not the only plan for the company, it seems to be considering multiple operations across other African regions like Morocco, Egypt, Ethiopia, Cameroon, among several others.
Setting up operation in the new continent, however, is not an easy task, hence, the company is rather hoping to penetrate the market with the help of ‘Expansion Associate’ which majorly consist of Alibaba.
Prior to now, the Startup was able to sign a partnership deal with Alibaba, and it is one of the reason the company is considering to fully set up operations in the Asia continent where it partner base. However, seeing India in the same frame makes the whole reason for expansion to Asia a little confusing, but since they fall to the same continent, then maybe such confussion can be overlooked.
For now, there is no much details about the expansion into the new market, however, we will update this article the moment we are able to get more details.